What Did You Buy Today?

[fenders53]

(05-07-2020, 11:15 AM)kblake Wrote: bought WFC, GD, FRT, MO, PM and BRK.B

I'm still holding 48% cash for other opportunities

(02-21-2021, 12:12 AM)crimsonghost747 Wrote:

(02-20-2021, 03:17 AM)fenders53 Wrote: I know you guys get that.  How do you solve that when it's decentralized?  I'm not expecting a good answer yet and my net worth is as stable as a leveraged weed stock ETF until I get that answer.   Great spec investment, not a legit currency yet.

Once more people will start using it as a currency, the price will automatically stabilize. Right now I'd say that 95%+ of the crypto coins out there are viewed as pure investments, not actually currency that is being used. If that will change someday, then the exchange rates stabilize too. 

Also keep in mind that large fiat currencies can have significant price swings. The brazilian real has shifted about 20% during the past year vs USD. Even if you look at EUR/USD, you'll see a 10%ish difference between the high and low of the past year, and a 40%ish difference between the high and low of the past decade. Yes. 40%. For the two largest currencies in the western world. 

I still do not think that bitcoin will ever be widely used. It's just too cumbersome (I can send most fiat currencies to the other side of the world faster and cheaper than I can send bitcoin) and as I mentioned, currently bitcoins are not widely used. The amount of electricity required to keep the systems up is insane, and likely needs to grow significantly if we want to properly use bitcoins as a currency.

Bitcoin is the poster child and as such draws in the speculative investment money. I suspect that, assuming we will use a crypto currency widely at some point, it'll be something other than bitcoin. Something that is much more lightweight and will do what bitcoin was supposed to do: allow for instant transfers across the planet with negligible cost.

See this is my actual opinion but I dont want to be mocked off ths forum.   I dont care if others want to speculate on BTC. It bothers me no more than a tech stock running 10x higher than sanity.

I see room for crypto improvement and maybe I'm not tech savvy enough but it seems kinda locked in at birth other than a fork which I dont pretend to understand.

And there are only a few FIAT currencies I would ever put my wealth into because I am a snobby American. Meanwhile we do all we can to undermine it.